Chelsea Football Club finds itself under investigation by the Premier League over potential financial rule breaches that may have occurred during Roman Abramovich’s ownership of the club. The probe comes in the wake of a takeover last summer by a US-led consortium that now owns Chelsea.
The consortium, which includes Clearlake Capital, a Californian investment firm, and is spearheaded by Todd Boehly, part-owner of the LA Dodgers, took the unusual step of reporting their own club to both UEFA and the Premier League after acquiring ownership.
As of now, Chelsea has not yet faced any charges by the Premier League, but the investigation will seek to determine whether any financial irregularities or breaches of the league’s financial regulations have occurred during Abramovich’s tenure as owner.
If found guilty of rule breaches, Chelsea could face a range of sanctions including fines or even points deductions. This investigation raises questions about the club’s financial practices and how they have adhered to the financial regulations set forth by the Premier League.
Interestingly, on 28 July, UEFA fined Chelsea €10 million (£8.6 million) for “submitting incomplete financial information” for the years spanning from 2012 to 2019.
Roman Abramovich’s 19-year ownership of Chelsea concluded in May 2022. His tenure was marked by significant success on the field, but the end of his ownership was underscored by political factors as he faced sanctions from the UK government due to his connections with Russian President Vladimir Putin. The government’s actions were in response to Russia’s invasion of Ukraine.
The £4.25 billion sale of Chelsea to the US-led consortium marked a significant change in ownership and direction for the club. As the investigation unfolds, it remains to be seen how the Premier League’s scrutiny will impact Chelsea’s future in terms of potential penalties or consequences for any alleged financial rule violations.
